https://www.taxtmi.com/acts?id=28820 The Act permits a registered person with aggregate turnover in the preceding financial year not exceeding fifty lakh rupees to opt to pay a prescribed fixed amount in lieu of regular tax, subject to prescribed rates and conditions. Eligibility excludes persons making certain services, non taxable supplies, inter State outward supplies, supplies through specified e commerce operators, and manufacturers of notified goods; the option lapses if turnover exceeds the threshold. Composition taxpayers cannot collect tax or claim input tax credit, and wrongful use of the scheme attracts assessment and penalty procedures under the Act. en-us Sat, 01 Jul 2017 12:27:59 +0530 Thu, 27 Jul 2017 16:16:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=28820 The Act permits a registered person with aggregate turnover in the preceding financial year not exceeding fifty lakh rupees to opt to pay a prescribed fixed amount in lieu of regular tax, subject to prescribed rates and conditions. Eligibility excludes persons making certain services, non taxable supplies, inter State outward supplies, supplies through specified e commerce operators, and manufacturers of notified goods; the option lapses if turnover exceeds the threshold. Composition taxpayers cannot collect tax or claim input tax credit, and wrongful use of the scheme attracts assessment and penalty procedures under the Act. Act-Rules GST - States Sat, 01 Jul 2017 12:27:59 +0530 https://www.taxtmi.com/acts?id=28820